1839/8 $10 Liberty Head Eagle NGC MS-60 Large Letters, Type of 1838 Ex.SS Republic

Category: $10 Liberty Head Eagle
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1839/8 Authentic Shipwreck specie from the S.S. Republic. One of just nine (9) examples brought up from the murky depths. In October 1865, six months after the Civil War ended, the side-wheel steamer SS Republic sailed from New York to New Orleans carrying gold and silver coins to help rebuild the war-torn city. The former blockade runner sank in a hurricane off Georgia's coast, settling 1,700 feet deep with an estimated $400,000 in precious cargo.

Nearly 140 years later, salvage experts using advanced technology recovered a stunning trove of pristine Civil War-era coins. Gold and silver had been scarce during and after the war due to rampant inflation from massive paper currency printing, prompting widespread hoarding of "hard money." The South was economically ruined—its paper money worthless, hard assets depleted.

Post-war price swings led many coins to be melted or heavily worn in circulation. The SS Republic's coins escaped this fate, preserved in near-perfect condition like a time capsule on the ocean floor, making them rare numismatic treasures today.



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